Milan, Italy – November 5, 2025 – In a historic move that signals the twilight of one of football's most storied venues, Inter Milan and AC Milan have finalized the purchase of the land beneath the iconic San Siro stadium. The two Serie A powerhouses announced on Wednesday that they have completed the signing of the deed of sale with the Municipality of Milan, securing ownership of the site for 197 million euros ($231 million). This transaction, approved by the city council just over a month ago, marks the definitive step toward demolishing the legendary arena and constructing a state-of-the-art replacement nearby.
The acquisition was a race against time. Had the clubs failed to finalize the deal by next Monday, a public building protection order would have been imposed on the San Siro's distinctive second tier – the iconic ring of concrete beams and spiraling ramps that have defined the stadium's silhouette since its major renovation in the 1980s. Such an order would have indefinitely halted demolition plans, preserving the structure under heritage laws and derailing the ambitious redevelopment project. By completing the sale ahead of schedule, Inter and AC Milan have cleared the final bureaucratic hurdle, allowing them to proceed with a transformative initiative estimated at 1.2 billion euros.
The project encompasses more than 28 hectares (approximately 70 acres) on Milan's western outskirts, an area currently dominated by the existing stadium, matchday parking lots, and a modest public park. The centerpiece will be a modern, 71,500-capacity arena built immediately west of the current San Siro. Designed by renowned architectural firms Foster and Partners and MANICA, the new venue promises cutting-edge facilities, improved accessibility, and sustainable features to meet contemporary standards for major international events.
During construction, the San Siro – officially known as Stadio Giuseppe Meazza – will remain operational, ensuring uninterrupted home matches for both clubs. Inter Milan, with its black-and-blue stripes, and AC Milan, in red and black, have shared the stadium since 1947, forging a unique rivalry within the same walls. Together, they have claimed 10 European Cup/Champions League titles, cementing the San Siro's status as "football's La Scala," a nickname evoking Milan's opera house for its dramatic atmosphere and architectural grandeur.
Once the new stadium is complete, the old San Siro will face near-total demolition. Only select elements may be preserved for historical or symbolic purposes, though details remain under discussion. The freed-up land will be repurposed into a multifaceted urban space: expansive new parkland to enhance green areas in the densely populated city, modern office complexes to boost economic activity, and entertainment facilities including retail outlets, museums, and leisure zones. This redevelopment aims to revitalize the San Siro district, transforming it from a sports-centric enclave into a vibrant, mixed-use hub that benefits residents year-round.
The timeline is ambitious. The clubs are targeting completion in time for the 2032 European Championship, which Italy will co-host with Turkey. UEFA requires Italy's football federation (FIGC) to submit its five official venue selections by October 2026. To position the new Milan stadium as a contender, construction must commence no later than March 2027. Preliminary works, including site preparation and infrastructure upgrades, are expected to begin shortly after the land transfer is fully processed.
This isn't the first time the San Siro has faced existential threats. Built in 1926 and expanded multiple times – most notably for the 1990 World Cup – the stadium has undergone renovations costing hundreds of millions. However, aging infrastructure, including outdated seating, limited corporate hospitality, and compliance issues with modern safety regulations, have long prompted calls for replacement. Previous proposals for separate stadiums fell through due to financial and logistical challenges, leading to this joint venture. The shared approach minimizes costs and maximizes efficiency, though it requires delicate coordination between the fierce rivals.
Environmental considerations are integral to the plan. The new arena will incorporate energy-efficient systems, rainwater harvesting, and extensive greenery to offset the carbon footprint of construction and operations. The additional parkland will increase Milan's green space by several hectares, addressing urban heat island effects and providing recreational areas for the local community. Architects have emphasized a design that integrates seamlessly with the surrounding neighborhood, featuring pedestrian-friendly pathways and public transport links to reduce car dependency on matchdays.
Financially, the project is backed by a combination of club equity, bank loans, and potential naming rights deals. Inter Milan, owned by Chinese retail giant Suning until its 2021 debt restructuring under Oaktree Capital Management, and AC Milan, acquired by American investment firm RedBird Capital in 2022, have both stabilized their finances in recent years through prudent management and on-pitch success. Inter's 2023-24 Serie A title and AC Milan's consistent top-four finishes have bolstered revenue streams from broadcasting, merchandising, and sponsorships.
Public reaction has been mixed. Football purists lament the loss of the San Siro, a venue that has hosted World Cup finals, Champions League showpieces, and legendary concerts by artists like Bruce Springsteen and U2. Preservationists argue that its cultural significance warrants partial retention, perhaps converting sections into a museum or multi-sport facility. Conversely, supporters and city officials hail the move as forward-thinking, essential for keeping Milan competitive in global football. The new stadium's increased capacity and premium amenities are projected to generate higher matchday revenues, crucial for complying with UEFA's financial fair play rules.
In a poetic swan song, the San Siro will bask in international spotlight one last time. On February 6, 2026, it is slated to host the opening ceremony of the Milan-Cortina Winter Olympics, a spectacle expected to draw millions of viewers worldwide. Fireworks, performances, and athletic displays under the stadium's floodlights will commemorate its century-long legacy before the wrecking balls arrive.
As demolition looms, the San Siro's demolition will not erase its history but rather evolve it. The new arena, tentatively dubbed "The Cathedral" in early renderings, aims to honor the past while embracing the future. For Inter and AC Milan fans, the transition evokes bittersweet emotions – the end of an era, but the dawn of enhanced experiences in a venue built for the next generation of stars.
This deal underscores Milan's enduring passion for football and its commitment to innovation. With the land now in club hands, the countdown to a new chapter in the Milan derby has begun.
